Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : turned downward again, buyer seller battling.
Support : 1580, 1570, 1565, 1550 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI closed recorded loss with slower volume transacted with rollover activities doing about 2 points discount compare to cash market that also closed lower. Overnight U.S. markets closed lower and today Asia markets ended mostly lower while European markets currently decline lower.
Reports on China industrial companies dropped 5.2% in Jan-Feb, U.S. Fed Reserve chairman statement on U.S. economic recovery isn’t assured plus Japan most company dividend ex date send regional market lower.
Technical reading switch to recommending a correction range bound little upside biased market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.
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